🗣️🔥SHIB Shibarium sees a staggering 2,050% increase in gas prices in 48 hours
Gas prices on the Shiba Inu Shibarium have skyrocketed 2,050% in just two days, marking a significant change in the token's network dynamics. The increase in gas fees, which now represent 60-70% of the gas limit, coincides with an increase in SHIB token burn rates, with over 182 million coins destroyed in a single day.
Shibarium network developers have confirmed that all transactions on the upcoming layer 2 blockchain will burn SHIB tokens and exclusively use BONE for gas fees. This development aims to increase transaction speed, reduce costs and improve the overall investor experience in the Shiba ecosystem.
According to xFund validator Ringoshi, gas fees on Shibarium could potentially be as low as $0.02 per transaction, a significant reduction from current rates. This projection suggests that Shibarium's gas fee model could make transactions more affordable and accessible to users, thereby encouraging wider adoption of the platform.
